Klarna Launches KlarnaUSD Stablecoin
By Terell WrightKlarna, the digital banking and flexible payments provider, is launching its first stablecoin on Stripe and Paradigm's Tempo blockchain.The Tempo blockchain is built for payments. KlarnaUSD is built on Open Issuance by Stripe's Bridge stablecoin infrastructure platform.Klarna said the move was a significant shift for the company, as its chief executive, Sebastian Siemiatkowski was initially skeptical of cryptocurrency.The company said it is the first digital bank to issue a stablecoin on Tempo. It said KlarnaUSD is positioned to drastically reduce costs for cross-border payments, which currently generate an estimated $120 billion in annual transaction fees.KlarnaUSD, which is currently in advanced testing, is slated to publicly launch on Tempo in 2026.Write to Terell Wright at [email protected]